💰 Tax Planning
Tax Savings Estimator
Calculate how much you can save with common tax deductions.
👤 Your Info
📋 Deductions & Contributions
💵 Total Tax Savings
Income Without
Income With
Effective Rate
📊 Savings by Deduction Type
💡 Smart Moves
📌 5 Tax-Saving Tips
- ✓ Max out 401(k) first — it lowers your AGI (Adjusted Gross Income) which qualifies you for more deductions and credits.
- ✓ HSA beats 401(k) for tax efficiency — triple tax advantage (deductible, grows tax-free, withdraws tax-free for medical).
- ✓ Don't overlook credits — the Saver's Credit, EITC, and education credits are dollar-for-dollar, not just income reducers.
- ✓ Time deductions strategically — bunching charitable donations into one year can push you over the standard deduction.
- ✓ Tax-loss harvesting — sell losing investments to offset gains. Up to $3,000 in losses can offset ordinary income.
Disclaimer: This calculator provides educational estimates only and is not tax, legal, or financial advice. Tax laws change frequently. For 2024 federal brackets only — does not include state taxes, AMT, or phase-outs. Consult a CPA or tax professional for personalized guidance.